Saturday, March 31, 2012

Eurozone countries build a bigger financial 'firewall'Los Angeles TimesREPORTING FROM LONDON –- The 17 nations of the Eurozone agreed Friday to increase their bailout resources in an attempt to keep a lid on the debt crisis that has hobbled the region's economy and raised doubts about the future of the euro.

Spain unveils 'most austere' Budget in democratic history - Telegraph: "The cuts fell short of the €34bn experts said were required to reduce the budget deficit from 8.5pc to 5.3pc of gross domestic product (GDP). By targeting businesses rather than individuals the Government was accused of short-termism. Christian Schulz, senior economist at Berenberg Bank, said: "If the UK has put up a sign saying 'open for business', then Spain has put up a sign saying 'siesta'."

Eurozone gets $670 billion in fresh bailout fundsBusinessWeekOf the (EURO)800 billion, which eurozone finance ministers agreed Friday at a meeting in Copenhagen, only some (EURO)500 billion ($670 billion) is actually still available. About (EURO)300 billion in loans have already been used to bail out Greece, ...

Euro zone pumps up bailout fund to nearly $1 trillionWashington PostAfter meeting in Copenhagen, the euro zone finance ministers announced that they would substantially increase their commitments for a new permanent bailout fund to $667 billion. They said they will also make available an additional $267 billion from an ...

Euro zone set to boost debt-crisis firewallsReutersBy Jan Strupczewski and John O'Donnell | COPENHAGEN (Reuters) - Euro zone finance ministers are likely to agree to temporarily almost double their financial backstops on Friday as one of the final moves to end the sovereign debt crisis, ...

Eurozone Gets $670B in Fresh Bailout FundsTIMEEurozone finance ministers, who were meeting in Copenhagen, Denmark, said that — in combination with some (EURO)300 billion that had already been spent on saving Greece, Ireland and Portugal — the currency union now possesses a (EURO)800 billion ...

Euro zone inflation slows less than expectedReutersBRUSSELS (Reuters) - Inflation in the euro zone slowed slightly in March but not by as much as expected, with rising oil prices hitting consumers' and complicating the European Central Bank's task of reviving growth without firing up the cost of living ...

Eurozone Boosts Bailout Fund to More Than $1 TrillionVoice of America (blog)The bigger account is aimed at protecting the eurozone against possible defaults by Italy and Spain, whose combined debts dwarf that of the three countries the continent has already assisted. Financial analysts, the International Monetary Fund and the ...

Eurozone Firewall to be Expanded to 800 Billion EurosHispanicBusiness.comThe total firepower of eurozone bailout funds will be increased to around $1.07 trillion, theeurozone's finance ministers, said Friday. "All together, the euro area is mobilizing an overall firewall of approximately 800 billion euros, ...

Euro-Zone Finance Ministers Poised to Create Stronger FirewallWall Street Journal (blog)By Riva Froymovich Euro-zone finance ministers appeared ready to reach a decision Friday on creating a stronger firewall to combat the sovereign debt crisis, coalescing around a plan that would combine funds from a temporary bailout vehicle with new ...

Bundesbank Rejects Weak Euro-Zone BondsWall Street JournalBy CHRISTOPHER LAWTON FRANKFURT—The central bank of Germany will no longer accept bank bonds backed by Ireland, Greece and Portugal as collateral, becoming the first euro-zonecentral bank to exercise a new privilege to protect its balance sheet from ...

Austria: Euro bailout fund will be $1.1 trillionBusinessWeekThat gives the eurozone some (EURO)500 billion in fresh money to help debt-ridden countries. Maria Fekter said the figure should send a convincing message to financial markets and theeurozone's international partners that the currency union can ...

Eurozone Ministers Agree To Boost FirewallNASDAQ(RTTNews.com) - Eurozone finance ministers decided to raise the combined size of the region's bailout funds to prevent the possible spillover of the debt crisis in some member states. The ceiling for lending by the European Stability Mechanism (ESM) ...

Europe Ministers Reach Deal on Trillion-Dollar 'Firewall'Voice of AmericaMarch 30, 2012 Europe Ministers Reach Deal on Trillion-Dollar 'Firewall' Selah Hennessy | London European ministers meeting in Copenhagen have agreed to create a permanent fund for the eurozone to help it recover from its debt crisis with temporary ...

Dollar Weakens as Euro Zone Moves to Boost Rescue FundWall Street JournalBy WILLIAM L. WATTS And SARAH TURNER The US dollar dipped Friday, the last trading day of the first quarter, while the euro held gains as euro-zone finance ministers moved to boost the size of the region's firewall and traders awaited the release of ...

Euro Mixed After Eurozone Expands FirewallNASDAQ(RTTNews.com) - The euro showed mixed trading on Friday morning following the news thatEuro-zone finance ministers have agreed to temporarily boost the size of their sovereign debt firewall to 800 billion euros. The current overall limit for lending ...

Eurozone inflation falls by less than predictedThe Seattle TimesFigures from Eurostat, the EU's statistics office, showed inflation in the eurozone in the year to March fell to 2.6 percent from 2.7 percent the previous month. The decline was not as big as predicted. The consensus in the markets was for the rate to ...

Random Roger: Financial Crisis NIMBYBy Roger NusbaumFinancial Crisis NIMBY. Zerohedge posted a brief research note from Brevan Howard noting visibility for what it calls a fiscal drag in 2013. It views this as a certainty to be caused by an increase in capital gains and dividend taxes, presumably ...Random Roger

Today in the euro zone – a blizzard of bailout numbers | MacroScopeBy Mike PeacockUp to mid-2013, if 700 billion proves to be insufficient — i.e. someone else needs bailing out —euro zone leaders will be able to bolster it with the 240 billion euros as yet unused in the EFSF, according to the draft, although German Finance ...MacroScope

Money Circulation on the Eurozone- “Banks' Deposits” under the ...By merijnknibbeToday a guest post by Erwan Mahé, from OTCex group. Unlike standard ECB analysis the article focuses on monetary differences between Euro countries and dynamic as well as changing relations between monetary and other variables.Real-World Economics Review Blog

By Brian AshcroftIn another very good post today Simon Wren Lewis raises the issue of whether European austerity is self defeating. In the course of his piece he makes the point that a long period of economic stagnation is required in many Eurozone countries ...Scottish Economy Watch

Friday, March 30, 2012

Euro Area Closes In on Boosted FirewallWall Street Journal (blog)By Matina Stevis A German-backed compromise to boost the lending capacity of the euro-zone's rescue funds is set to win the backing of euro-area finance ministers in Copenhagen on Friday and officials are also likely to pick a new member of the ...

Euro Zone's Next Debate: How Big of a Bailout Fund?New York TimesCOPENHAGEN — How big is big enough for a permanent bailout fund for the euro zone? When finance ministers meet here Friday and Saturday, they will seek to agree on a figure large enough to deter speculators from further driving up the borrowing costs ...

Euro zone sentiment setback blunts recovery hopesReutersBRUSSELS (Reuters) - An upturn in economic sentiment in the euro zone ran out of steam in March as manufacturers and builders faced a drop in orders, a survey showed on Thursday, dampening hopes of a return to growth in the first quarter.

Euro zone lagging behind in shaky G7 recovery- OECDReutersAnnualised G7 growth seen at 1.9 pct in Q1, Q2 * No rush for central banks to start tightening By Leigh Thomas PARIS, March 29 (Reuters) - Euro zone nations are falling far behind the United States and Canada as a fragile recovery takes root in ...

Survey Points to Fragile Recovery in Euro ZoneNew York TimesFRANKFURT — An official gauge of the mood among consumers and businesses showed Thursday that the euro zone economy remained fragile, with manufacturers and builders growing more pessimistic about their prospects even though the sovereign debt crisis ...

Euro zone lagging behind in shaky G7 recovery: OECDChicago TribunePARIS (Reuters) - Euro zone nations are falling far behind the United States and Canada as a fragile recovery takes root in advanced economies, the OECD said on Thursday, advising central banks to keep easy money flowing so the rebound does not prove ...

Berlin budges on boosting euro crisis firewallMinnPost.comBy Siobhan Dowling, Global Post | 08:48 am Despite something of a lull following the frenzied maneuvers to prevent a Greek default, the specter of contagion still looms. As the 17 euro zonefinance ministers prepare to meet in Copenhagen later this ...

Govt loses about $49M on sale of small bank stocksThe Seattle TimesThe government has lost roughly $50 million on its sale of stock in six small banks bailed out in the 2008 financial crisis. But the Treasury Department says the three-year investment was profitable after counting dividends and investments.

Eurozone plan to hold €240bn in reserveFinancial TimesEurozone finance ministers are considering freezing €240bn in leftover funds in their temporary bailout scheme and keeping it in reserve through to the middle of next year in case they need an emergency rescue of Italy or Spain, according to a draft ...

German opposition warns Merkel on fiscal pact, ESMChicago TribuneBERLIN (Reuters) - Germany's opposition Social Democrats warned Chancellor Angela Merkel's government on Thursday not to take their support for new euro zone crisis-fighting measures for granted, saying more work was needed to convince lawmakers.

Euro-Zone Fix Would Cost EUR5.1 Trillion, Says New ReportWall Street Journal--Says euro zone would need to pool all "excess" public and private debt and refinance it via region-wide redemption fund backed by euro-zone government bonds. By Stephen L. Bernard and Vincent Cignarella Of DOW JONES NEWSWIRES NEW YORK (Dow ...

EC euro-zone sentiment indicator dips to 94.4MarketWatchBy William L. Watts FRANKFURT (MarketWatch) -- The European Commission on Thursday said its economic sentiment indicator for the 17-nation euro zone slipped to 94.4 in March from 94.5 in February. Economists had expected an unchanged reading at 94.5.

Eurozone to increase rescue aid budgetTaipei TimesMerkel or any other eurozone government leader could exercise a veto. Extra money won't put the debt crisis to rest, said Jens Weidmann, who was Merkel's economic adviser until he became head of Germany's central bank last year.

Eurozone set to boost firewall as Spain worriesEconomic TimesBRUSSELS: Eurozone finance ministers aim to boost their debt rescue fund on Friday, as Spain presents its budget amid resurgent concern it could be the next victim of the debt crisis. After months of fraught negotiations and international pressure, ...

OECD presses G7 nations to sustain recoveryFinancial TimesThe rallying cry from the OECD, a club of 34 rich nations, comes as rising oil prices and the lingering danger of renewed crisis in the eurozone cloud what has otherwise been a broadly optimistic start to the year. The OECD's interim assessment of its ...

Euro-Zone Manufacturers More GloomyWall Street JournalThe weakening of confidence, albeit small, suggests that the euro-zone economy won't soon recover, having contracted in the final three months of last year. The Commission last month said it expected the currency area to experience a shallow recession ...

OECD Sees Europe, US Drifting ApartWall Street JournalThe OECD didn't provide a forecast for the euro zone, made up of the 17 countries sharing the euro currency. But it did say that the region's three largest economies—Germany, France and Italy—together will shrink 0.4% in the first quarter and grow 0...Wall Street Journal

OECD warns eurozone lags behind in shaky recoveryeuronewsEurozone countries are falling far behind the United States and Canada even as a fragile recovery takes root according to the Organisation for Economic Cooperation and Development. The OECD's chief economist Pier Carlo Padoan said the risk of something ...euronews

German Fin Min says will find solution on fin market taxReuters| BERLIN, March 29 (Reuters) - German Finance Minister Wolfgang Schaeuble said on Thursday he was certain euro zone countries would find a solution to a dispute about a tax on financial services and that Germany would continue to push for a deal.

Eurozone Economic Sentiment Drops For First Time In 3 MonthsNASDAQ(RTTNews.com) - Denting recovery hopes, Eurozone economic confidence dropped marginally in March as manufacturers and construction firms turned gloomy about future prospects. After improving in January and February, the economic sentiment index fell to ...

UK Treasury review: unprepared for banking crisisThe Seattle TimesBritain's Treasury was not prepared for the financial crisis which began in 2007 and still needs to do more to retain talented staff, according to a review published Thursday. The Associated Press No comments have been posted to this article.

German Parties Battle Over Merkel's Austerity PlanWall Street JournalBy William Boston BERLIN (Dow Jones)--Germany's main opposition Social Democrats Thursday rounded on Chancellor Angela Merkel's austerity cure for Europe and threatened to block ratification of the fiscal pact and euro-zone firewall unless the ...

bailouts may not be enoughMarketWatchBy Darrell Delamaide With everyone clamoring for a bigger permanent bailout fund in the euro zone to lend greater credibility to the European Union's commitment to preserve the joint currency, Merkel continues to hem and haw about just how much money ...

US Dollar Strengthens as Eurozone Concerns Resurface — Forex ...By MMarquitUS dollar is strengthening in Forex trading as concerns about the eurozone continue to weigh on world markets. Slightly disappointing data in the United States, along with worries that the debt crisis in Europe isn't properly contained, are ...Forex News

Forex - EUR/USD steady on euro zone firewall hopes By ForexprosBy ForexprosForexpros - The euro was steady against the U.S. dollar on Thursday, supported by hopes thateuro zone leaders will increase the size of the European debt firewall to combat the fiscal crisis. EUR/USD hit 1.3346 during late Asian trade, the ...Forex Pros RSS News Feed | Forex News

Who was to blame for the financial crisis? « The Enterprise BlogBy Nick SchulzDuring my conversation with AQR Capital Management's Cliff Asness, I asked him who was to blame for the financial crisis. Asness is careful to separate the real estate bubble from the broader financial contagion and too-big-to-fail. Of the ...The Enterprise Blog

Roubini Economics' Euro-Zone Specialist: LTRO Euphoria 'Overdone'
Wall Street Journal
By Bradley Davis Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Greece will restructure its debt and leave the euro zone by the end of 2014; Portugal will follow the next year, predicted the head of European economics at Roubini Global Economics.

Lending Growth Slows in Euro Zone
New York Times
FRANKFURT — Bank lending to consumers and businesses continued to grow very slowly in the euro zone in February, according to figures issued Wednesday, a sign that the “wall of money” unleashed by the European Central Bank in recent months has not yet ...

Credit growth slows in eurozone
The Seattle Times
The European Central Bank says the flow of credit available to businesses slowed down in February - a sign that the bank's massive series of cheap loans to the financial system has yet to kickstart a lagging eurozone economy.

Euro Zone Private Sector Loan Growth Slows
NASDAQ
Growth in lending to companies and households in the euro zone slowed sharply in February in annual terms compared with the previous month while the increase in lending to governments accelerated, data from the European Central Bank showed Wednesday.

Euro zone mulls quicker injections to firewall
MarketWatch
By Matina Stevis BRUSSELS -- Euro area countries are strongly considering paying cash into the currency union's firewall faster in order to raise its ability to lend money to countries in trouble, a senior European Union official said Wednesday.

DATA SNAP: ECB: Private Sector Loan Growth Slows In February
Wall Street Journal
By Margit Feher FRANKFURT (Dow Jones)--Bank lending growth to companies and households slowed sharply in the euro zone in February in annual terms compared to the previous month, data from the European Central Bank showed Wednesday, reflecting that ...

Loans to euro zone firms dip despite ECB operation
Reuters
FRANKFURT, March 28 (Reuters) - Banks reduced lending to euro zone businesses in February, European Central Bank data showed on Wednesday, suggesting they are not loaning out to firms the billions of euros in cheap ECB funds they tapped in recent ...

Italy PM Monti downplays Spain contagion risk
Reuters
TOKYO, March 28 (Reuters) - Italian Prime Minister Mario Monti on Wednesday played down the risk that economic troubles in Spain would spread to the rest of Europe and said he believed theeuro zone debt crisis was nearly over.

Europe set to speed up building of new bailout
Seattle Post Intelligencer
Merkel said she is open to temporarily boosting the eurozone's financial firewall to 700 billion euro (US$ 930 billion). Photo: Markus Schreiber / AP German Chancellor Angela Merkel, right, and Vice-Chancellor Philipp Roesler attend the weekly cabinet ...

Eurozone woes make BRICS ministers look inwards
AFP
"It would be a very powerful financial tool to improve trade opportunities and maybe a major step to support the EU to overcome its financial crisis," said Brazilian Trade Minister Fernando Pimentel. "Even if Europe manages to solve the big issues.AFP

ECB fails to stem reduction in lending
Financial Times
By Ralph Atkins in Frankfurt European Central Bank action to shore up the eurozone financial system failed to prevent the region's banks scaling back lending to the private sector again last month, but it did spur a surge in demand for government bonds ...

Case-Shiller home price index hits new post-financial crisis low
Joplin Globe
LOS ANGELES — A key measure of home prices in large US cities fell to a new post-financial crisis low in January, the latest indication that the housing market continues to hunt for a bottom even as sales pick up. Economists expected the drop and ...

Italy eurozone: Monti's test of strength with unions
BBC News
And if he is not able to, what might that mean for Italy and the eurozone? Just how serious is all this? The current row focuses on the government's effort to tackle what is sometimes called Italy's two-tier labour market. Many older workers tend to be ...BBC News

EU Nears One-Year Rescue Boost to EU940 Billion, Draft Says
San Francisco Chronicle
For more on the euro crisis, click on EXT4.) March 28 (Bloomberg) -- European governments are preparing for a one-year increase in the ceiling on rescue aid to 940 billion euros ($1.3 trillion) to keep the debt crisis at bay, according to a draft ...

Fitch: Global Econ Recovery Modest; Euro-Zone Recession Likely In 1H
Wall Street Journal
Pointing to a 0.3% decline in the euro zone's fourth-quarter gross domestic product and other weak economic data, Fitch said it believes a recession in the first half of 2012 is likely for the region. Euro-zone businesses suffered their first fall in ...

Dollar mixed as euro zone meeting in focus By Forexpros
By Forexpros
Forexpros - The U.S. dollar was mixed against its global counterparts on Wednesday, as dovish comments by Federal Reserve Chairman Ben Bernanke weighed, while the euro remained supported ahead of a meeting of euro zone finance ...
Forex Pros RSS News Feed | Forex News

Snyder to address Detroit financial crisis at WCCC town hall meeting
By lukabottle
Rick Snyder will address Detroit's ongoing financial crisis and take questions from the public regarding a proposed consent agreement at a town hall meeting on Wednesday, his spokeswoman told MLive today. Snyder will speak at 11 a.m. at ...
DetroitYES Forums

Real Estate Weekly » Blog Archive » New York's Euro Zone
By admin
New York's Euro Zone. 11:59 am, March 28, 2012. Tweet. By Liana Grey. For the last few months, Sam DeFranceschi, a sales associate at Nest Seekers International, has been marketing a one-bedroom loft near the South Street Seaport, ...
Real Estate Weekly

Eurozone Crisis: Hope for the Best, Plan for the Worst | What Am I ...
By WhatAmIMissingHere
The pundits predicted a collapse of the euro.The resilience of the euro has been due to a number of factors, not least of which is that the eurozone as a whole has a broadly balanced current account. The euro has also been on the other side ...
What Am I Missing Here?

Eurozone: real money still recessionary | Mindful Money
By Simon Ward
Eurozone money supply figures for February confirm a positive impact from the ECB's liquidity injections but real money trends have yet to signal a recovery in economic activity. An optimistic interpretation would highlight a turnaround in broad ...
Mindful Money

Euro crisis needs "mother of all firewalls": OECDReutersBy Robin Emmott | BRUSSELS (Reuters) - Euro zone finance ministers need to impress finance markets with the size of their rescue fund for indebted countries when they meet later this week, the head of the OECD said on Tuesday, advocating "the mother of ...

Euro crisis needs 'mother of all firewalls,' OECD warnsLos Angeles TimesBy Tiffany Hsu Keeping the Eurozone financially stable amid "daunting" challenges will require a bailout fund of at least 1 trillion euros, or $1.3 trillion -- "the mother of all firewalls" -- the head of the Organization for Economic Cooperation and ...

Eurozone Follies: Confusing Callousness for CourageHuffington Postreels again as rates rise over doubts it can roll over its debt, it is time to step back and note that the eurozone can almost surely solve its problems in the medium term if it truly wants to. Surprise? It shouldn't be. But rarely has there been such ...

OECD Urges Euro Zone to Boost FirewallsWall Street JournalBy RIVA FROYMOVICH BRUSSELS—The European Union and the Organization for Economic Cooperation and Development on Tuesday urged euro-zone leaders to forge ahead with a decisive boost to the bloc's firewall to prevent runs against solvent sovereigns.

OECD pushes for $1.3 trillion eurozone crisis fundKansas City StarAngel Gurria, the secretary-general of the Paris-based international development body, said existing plans for a (EURO)500 billion ($664 billion) European rescue fund were not enough to restore market confidence in the eurozone.

OECD Says Eurozone Needs Much Bigger Bailout FundVoice of America (blog)On Tuesday, Angel Gurria, the OECD's secretary general, said eurozone finance ministers meeting later this week in Copenhagen need to create a $1.3 trillion rescue fund. He said the “mother of all firewalls” is needed — to be certain the fund has ...

OECD: Eurozone Not Out of the Woods YetFox BusinessThe euro zone's public debt crisis is not over despite calmer financial markets this year, the OECD said on Tuesday, with a warning that the bloc's banks remain weak, debt levels are still rising and fiscal targets are far from assured.

Detroit's financial crisis tests preachers' patienceDetroit Free PressDavid Bullock has been preaching about Detroit's financial crisis from the pulpit. "Every Sunday," said Bullock, pastor of Greater St. Matthew Baptist Church in Highland Park and president of the Detroit chapter of the Rainbow PUSH Coalition.

Merkel's Plan at Home and AbroadWall Street Journal (blog)By William Boston After yesterday's announcement that Germany plans to go along with a largereuro-zone firewall — even if the least effective option on the table — Chancellor Angela Merkel will now start to make sure her message does not get lost in ...

OECD Urges Euro Zone To Boost Firewalls To E1 TrillionNASDAQBRUSSELS -- The European Union and Organization for Economic Cooperation and Development Tuesday urged euro-zone leaders to forge ahead with a decisive boost to the economic bloc's firewalls to prevent runs against solvent sovereigns.

Euro-zone needs 1 trilllion euro firewall: OECDMarketWatchBy William L. Watts FRANKFURT (MarketWatch) -- Euro-zone finance ministers meeting at the end of this week need to boost the firepower of the region's rescue funds to at least 1 trillion euros ($1.34 trillion) in order to restore market confidence, ...

Bernanke Tackles 2008 Financial Crisis In Third GW LectureForbesFederal Reserve Chairman Ben Bernanke is finally getting to the juicy, current events portion of his four-lecture series at George Washington University Tuesday, discussing the 2008 financial crisis. Previously released documents from the Fed have ...

Europe Urged to Increase Firewall to a Trillion EurosNew York TimesBRUSSELS — The European Union should increase its financial firewall to about €1 trillion to restore market confidence in the euro zone and prevent the spread of fiscal contagion, the head of the Organization for Economic Cooperation and Development, ...

Today in the euro zone –Reuters Blogs (blog)By Mike Peacock Conflicting pressures for the euro zone bond market today – a strong signal from Germany that it is willing to increase the firewall built around the currency bloc but ongoing concerns that Spain is being dragged into the mire.

Germany open to raise crisis firewall to $930 bnBusinessWeekBy GABRIELE STEINHAUSER and DAVID RISING Germany has backed down from its resistance to boosting Europe's financial firewalls, after Chancellor Angela Merkel admitted that she was open to temporarily boosting the eurozone's bailout funds to (EURO)700 ...

Europe's Firewall FolliesWall Street JournalAngela Merkel said Monday that the German government will support expanding the resources of the euro zone's bailout fund to €700 billion from €500 billion. The European Commission wants €940 billion for the European Stability Mechanism (ESM), ...

German Leader Agrees to More Bailout Money for Euro Zone NationsNew York TimesBRUSSELS — The European Union took a big step on Monday toward building a financial firewall strong enough to prevent the spread of fiscal contagion to major economies like Spain. The move came after Germany dropped its opposition to bringing the ...

OECD calls for 1.0-tn-euro eurozone debt fundAFPBRUSSELS — The eurozone came under new pressure to boost the firepower of its debt rescue fund on Tuesday, with the 34-nation OECD pressing for a safety net of at least 1.0 trillion euros ($1.33 trillion). "The European firewalls should be expanded ...AFP

Bernanke In Lecture Defends Fed's Actions In Financial CrisisNASDAQBy Kristina Peterson and Michael R. Crittenden WASHINGTON -(Dow Jones)- The Federal Reserve's forceful response during the financial crisis prevented a more severe economic recession, Chairman Ben Bernanke said Tuesday in one of his most comprehensive ...

OECD urges eurozone rescue fund boost to 1tn eurosBBC NewsThe head of the Organisation for Economic Co-operation and Development (OECD) has said that the eurozone needs to double its bailout fund to 1 trillion euros ($1.3tn, £836m). Angelo Gurria said the eurozone must show investors they have the "firepower ...BBC News

Forex - NZD/USD steady amid euro zone uncertainty By ForexprosBy ForexprosForexpros - The New Zealand dollar was steady against its U.S. counterpart on Tuesday, as markets were jittery after downbeat German economic data while concerns over a third round of monetary easing in the U.S. weighed on demand for ...Forex Pros RSS News Feed | Forex News

French Politics: OECD Warns Eurozone on Need for ReformBy Arthur GoldhammerOECD Warns Eurozone on Need for Reform. The OECD has told the Eurozone that it needs to undertake "ambitious structural reforms" in order to avoid a further recession. It also warned that the financial backstop might need to be increased.French Politics